Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public...

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Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools

Transcript of Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public...

Page 1: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Proposed Budget

2014-2015 School Year A 21st CENTURY EDUCATION BELOW THE TAX CAP

Wantagh Public Schools

Page 2: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

This budget maintains:• Full-day Kindergarten• Current Class Size

Guidelines• All Current K-12 Programs• All Athletic Teams and

Programs• AIS Support Incorporating RTI• Horizons Program• Elementary Foreign Language

Our Priorities21st Century Education

Page 3: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Our Priorities 21st Century Education

• General Maintenance of our District’s Buildings and Grounds

• Continued Use of Security Guards in All Five District Buildings

Page 4: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Our Priorities21st Century Education

• Continued Upgrade of our Technology Infrastructure Supporting Instruction (Hardware, Software, SMART Boards)

• Digital Instructional Resources Including: Castle Learning, iReady, enVision Math, Safari Montage and other Interactive Instructional Resources

Page 5: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

New Components 2014-2015 Budget: Curriculum

• Introduction of New HS Courses/Electives: Studio in Media Arts AP Physics I AP Physics I / II Math 12

• New “Wonders” Elementary Reading Program

Page 6: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

New Components 2014-2015 Budget: Technology

• Expansion of Technology

Initiatives for Academics,

Assessments and Infrastructure: Desktop Virtualization Macintosh Computer Lab Interactive Technologies Infrastructure Upgrades (Hardware, Software, Interactive Boards)

Page 7: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

New Components 2014-2015 Budget:Fine and Performing Arts

• Purchase of New

Musical Instruments to

Expand Opportunities

for Students

• Upgrading Facilities to

Address Growing

Demand for Music and Fine Arts

Page 8: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

• Development of New Energy Savings Projects

• 2014-2015 Capital Projects Include:

District-Wide - Brick Pointing, Lintels Repair, Masonry Reconstruction, Health and Safety Improvements

Middle School - Locker Replacements for Music Room and Gymnasium

High School - Bathroom Renovations, Door and Hardware Replacements

New Components 2014-2015 Budget:Facilities

Page 9: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Our Points of Pride

AcademicAthleticArtsAltruism

For More Highlights Go to our District Website at:

www.wantaghschools.org

Page 10: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Percentage of Wantagh Graduates Earning Regents Diplomas

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

0%

20%

40%

60%

80%

100%

Consistently Ranked

among the Highest in

Nassau County

97% of Wantagh’s 2013 Graduates were College Bound

Page 11: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Regents Passing Rates

US History/Gov't

Physics

Living Environment

Global History/Geography

Geometry

English

Earth Science

Chemistry

Algebra 2/Trigonometry

Algebra

0 10 20 30 40 50 60 70 80 90 100Percentage Passing

Page 12: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Advanced Placement Participation: 3 Year Study

Participation in the Advanced Placement Program is a

Common Indicator of School District Success

Wantagh HS will Administer 458 AP Exams to 265 AP Students in May 2014

In 2012, Wantagh had 223 AP Students and Administered 332 Exams

In 2013, Wantagh had 245 AP Students and Administered 388 Exams

2012 2013 20140

50

100

150

200

250

300

350

400

450

500

Number of AP Students

Total Number of AP Exams

38%INCREASE

SINCE 2012

Page 13: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

2013 AP Scores

• The average score on all exams in Wantagh was 3.14, and 70.9% of all scores were 3 or higher.

• 41.27% of all scores in Wantagh were a 4 or a 5.

Wantagh NYS Internationally0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

70.90%65.80%

58.50%

Page 14: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

• The percentage of AP students at Wantagh High School with a score of 3 or higher is 76.6% in 2013.

Wantagh NYS Internationally0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

76.60%

67.20%60.80%

Students Scoring 3+

2013 AP Scores

Page 15: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Budget Equation

Prog

ramExpenditure

Revenue

Tax Levy Limit

Page 16: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

2014-2015 Maximum AllowableTax Levy Calculation

2013-2014 Tax Levy $55,785,769 Tax Base Growth Factor x 1.0048

$56,053,541 2013-2014 Estimated PILOT + 50,017

$56,103,558 2013-2014 Capital Levy (Net of Building Aid) - (1,417,772) Adjusted 2013-2014 Tax Levy $54,685,786 Allowable Growth Factor (Lesser of 2% or CPI) x 1.46%

$55,484,198 2014-2015 Estimated PILOT - (52,703)

$55,431,495 Available Carryover from 2013-2014 + 0 Tax Levy Limit Before Exclusions $55,431,495 2014-2015 Pension Exemptions + 0 2014-2015 Capital Levy (Net of Building Aid) +$1,653,108

$57,084,603

2014-2015 Tax Levy Limit = 2.33%

Page 17: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

2014-2015 Budget and Levy Facts

Items Amount PercentProposed

Budget $75,481,754 1.76%

Proposed Tax Levy $56,895,906 1.99%Allowable Tax Levy $57,084,603 2.33%

Amount Below The “Tax Cap” $188,697

Page 18: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Three-Part Budget at a Glance:Expenses

10.18%

77.69%

12.13%

Proposed Budget Expenditure 2014-2015

Administration Program

Capital

Total Budget = $75,481,754

Programs for Students

CapitalAdministration & Program Support

Page 19: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Summary of Revenue

2013-2014 2014-2015

State Aid 14,556,612 14,496,604

Other Revenue 707,244 614,244Appropriated Fund Balance/Reserves 3,125,000 3,475,000

To Be Raised in Taxes 55,785,769 56,895,906

TOTAL BUDGET 74,174,625 75,481,754

Page 20: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Budget at a Glance:Revenues

75.38%

19.21%4.60% 0.81%

Estimated Revenues 2014-2015

Tax Levy

State Aid

Applied Fund Balance/Re-serves

Other Revenues

Tax Levy

State AidFund Balance Other Revenues

Page 21: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

State Aid

General AidBOCES Aid

Excess Cost AidHigh Tax AidBuilding Aid

Instructional Materials AidTransportation Aid

NYS Gap Elimination (State Aid Cut of $1,674,225)Local Share Deduct (State Aid Cut of ~ $51,000)

Total: $14,496,60419.21% of Revenue

Page 22: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Other Revenues

$ 614,244 Student Fees Interest Earnings Rental of Property Gifts and Donations

$3,475,000 Fund Balance and Reserves Utilizing More Money from

Reserves to Offset Loss of State Aid and Increase from Teachers’ Retirement Expenses

Total: $4,089,2445.41% of Revenue

Page 23: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Tax Levy 75.38% of Revenue

Proposed Levy $ 56,895,906

Current Levy $ 55,785,769

Amount Change $ 1,110,137

1.99% Increase

Page 24: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

2014-2015 Allowable Tax

Levy Limit

Levy is below the Allowable Tax Levy Limit:

Allowable Tax Levy: 2.33% $ 1,298,834Tax Levy Increase: 1.99% $ 1,110,137Dollar Amount Below Cap $ (188,697)

Page 25: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

889 Average Assessed Value

96.31 Estimated Proposed Tax Rate 8,562 Average Tax Bill - Proposed Budget

$173 Average Annual Tax Increase*

* Will Vary Based on Final Assessments and Adjusted Base Proportions

2014-2015

Proposed BudgetAverage Tax Bill

(Pending Updated Information from Nassau County Assessor this Fall)

• Assume the Adjusted Base Proportions Remain the Same as 2013-2014

• Average Assessed Home Full Value of $372,400

Average Class I Tax Bill

Tax Levy = $56,895,906

Page 26: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Nassau County Property Tax Class System

Class I Residential Homes (1-3 Family)Class II Multiple-Family HomesClass III Public UtilityClass IV Commercial Property

Wantagh Base Proportions 2013-14

Class I 87.72%

Class II 0.38%

Class III 3.92%

Class IV 7.98%

Page 27: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Process to Review Reserves and Fund Balance

• By 6/30/14 – Board Resolution Authorizes Funding of Specific Reserves up to a Set Dollar Amount

• Closing of Books – Final Review of Surplus and/or Deficit

• Review of Capital Needs• Review Capacity to Fund Reserves Based

on Budgetary and Actuarial Data

Page 28: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Process to Review Reserves and Fund Balance

• Allocation of Surplus Funds:Unappropriated Fund Balance - Limited to 4%

of Budget. Necessary to Offset:• Lost Revenues (State Aid, Grants, Other Revenues)• Unanticipated Cost Increases • Unanticipated New Expenses and Emergency

Expenditures

Reserves – Necessary for District Long-Term Planning Needs and Tax Levy “Smoothing”

Page 29: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Process to Review Reserves and Fund Balance

• Fiscal Targets Reviewed with Moody’s:– Undesignated Reserves Greater than 5% of

Revenues– Fund Balance (General Fund) 15-20% of Revenues– Appropriated Fund Balance As Little as Possible

(Obligation for Budget)– Debt Expenditures 2.5% to 4% of Revenues

Wantagh has Made Much Progress to Meet Fiscally Sound Targets

Page 30: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Undesignated Reserves - 2013General Fund – Fund Balance 6/30/2013 % Revenue Target

UNDESIGNATED RESERVES

Workers’ Compensation $515,128

Unemployment Insurance $504,469

Retirement Contribution $4,275,109

TOTAL UNDESIGNATED $5,294,706 7.1% > 5%

RESTRICTED RESERVES

Employee Benefit Accrued Liability $1,795,739

Tax Certiorari $350,000

TOTAL RESTRICTED $2,145,739

Total Reserves $7,440,445

Page 31: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Reserves and Fund Balance 6/30/14Prior to New Funding 6/30/2014 2013-14 Target

RESTRICTED (RESERVES)

Workers’ Compensation $515,128

Unemployment Insurance $504,469

Employee Benefit Accrued Liability $1,730,739 Minus $65,000

Retirement Contribution $3,675,109 Minus $600,000

Tax Certiorari $0 Minus $350,000

Capital Reserve $0 TBD

TOTAL RESERVES $6,425,445ASSIGNED

Encumbrances $0

Appropriated ($3,125,000+$350,000) $3,475,000 Plus $350,000

TOTAL ASSIGNED $3,475,000

UNASSIGNED $3,019,270 Limited to 4%

Total General Fund Balance $12,919,715 17.4% 15-20%

Less Prior Year Appropriation $9,444,715 12.7%

Page 32: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Debt Expenditures2013-14 Anticipated Actual % Revenues Target

DEBT EXPENDITURES

Bond Principal $1,590,000

Bond Interest $826,616

Total Debt $2,416,616 3.3% 2.5%-4%

2014-2015 Anticipated Actual % Revenues TargetDEBT EXPENDITURES

Bond Principal $1,660,000

Bond Interest $735,169

Total Debt $2,395,169 3.2% 2.5%-4%

$21,447 SAVINGS DUE TO BOND REFUNDING!

Page 33: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

According to the NYS Department of Taxation and Finance:

In School Districts where the Voter-Approved

2014-15 Tax Levy is at/or below the Allowable Tax Levy Limit

Taxpayers with Incomes up to $500,000

Who are Eligible for a STAR Property Tax Exemption

Will Receive a School Property Tax Credit* from NYS

in an Amount up to the Greater of:

1. The Increase in your School Tax Bill from 2013-14 to 2014-15

or

2. The Tax Growth Factor (1.46% for 2014-15) Multiplied by your 2013-14 School Tax Bill

* Adjustments will be Applied for Certain Exclusions

Tax Freeze Law

Page 34: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Contingency Budget

Instructional Equipment Technology Hardware Student Supplies Musical Instruments Non-Essential Maintenance

for Buildings and Grounds Capital Expenditures Reduction in Clubs, Teams

There are restrictive rules for budgets under contingency. Certain expenses are prohibited, and other budgetary items must be reduced or eliminated in order to meet contingency limits. Cuts would include the following:

Plus: Mandatory Fees for Use of Buildings by Community Groups

Page 36: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

VOTING

Tuesday, May 20, 2014

7:00 AM TO 9:00 PM

Wantagh Elementary School, Mandalay Elementary School and Forest Lake Elementary

School

Page 37: Proposed Budget 2014-2015 School Year A 21 st CENTURY EDUCATION BELOW THE TAX CAP Wantagh Public Schools.

Questions?